SEGRO Northern Europe with development record
In 2018, SEGRO Northern Europe completed a total of 165,200 square meters of rental space in its city and logistics parks in the Cologne, Frankfurt, Berlin, Stuttgart, Vienna and Amsterdam markets.
This set a new record volume. In total, SEGRO now has 1,478,000 square meters of rentable space in Northern Europe, with a weighted average length of unexpired leases of 7.2 years.
Most of the space completed in 2018 consisted of speculative developments. Nevertheless, more than half of this new space had already been let by the end of 2018.
SEGRO Northern Europe currently has an additional 176,900 square meters under development. These include new developments and expansions in Amsterdam, Düsseldorf, Frankfurt, Krefeld and Oberhausen.
"We completed both urban and classic 'big box' logistics units in 2018 and can therefore benefit from the demand, which continues to increase due to economic growth and the increasing importance of e-commerce," says Jim Hartley, Business Unit Director Northern Europe at SEGRO . “During the year we sold some of the last assets that did not fit our core strategy. Accordingly, we are now no longer present in Belgium and can turn our attention to Germany, where we intend to further expand our presence in the key markets. We will also be more active in the Netherlands.”
These are results of SEGRO's 2018 Annual Report, which you can find here.
SEGRO is a listed industrial real estate group from Great Britain and a market-leading owner, manager and developer of modern logistics and commercial real estate. SEGRO owns and manages over 7 million square meters of rental space with a value of over 12.5 billion euros and is a service provider for customers from a wide variety of industries. The properties owned and managed by SEGRO are in close proximity to major metropolitan areas and major transport hubs in the UK and nine other European countries.